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Kenya Cancels Multimillion Business Deals with Adani

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Kenya Cancels Multimillion Business Deals with Adani

(3 Minutes Read)

Kenya’s Energy Minister Opiyo Wandayi told a parliamentary committee there had been no bribery or corruption involved on Kenya’s part in signing that deal

Kenya’s president said he had cancelled multimillion-dollar airport expansion and energy deals with tycoon Gautam Adani after U.S. bribery and fraud indictments against him. Adani is one of Asia’s richest men.

President William Ruto in a State of the Nation address said the decision was made based on new information provided by investigative agencies and partner nations, without mentioning the country where the bribery took place.

The Adani group had been in the process of signing an agreement that would upscale Kenya’s main airport in the capital, Nairobi, with an additional runway and terminal constructed. The deal specified that the group would run the airport for 30 years. The deal triggered criticisms from several quarters. Adani also signed a business deal to construct power transmission lines in Kenya, East Africa’s business hub.

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Kenya’s Energy Minister Opiyo Wandayi told a parliamentary committee there had been no bribery or corruption involved on Kenya’s part in signing that deal.